Provide flexible earned wage access and financial well-being tools for your employees
Wageflo is an intuitive tool that significantly benefits users by allowing them to manage their earnings with no added workload for employers.
Sometimes, employees need to pay bills or unexpected expenses before their regular payday. Wageflo will reduce the need for your employees to use credit cards or loans and instead access their earned wages from their approved shifts!
We have made considerable effort to ensure that this exciting foundU feature is as user-friendly as possible for you and your employees.
In this article, we will cover:
- The benefits of using Wagflo for you and your employees.
- Eligible employees for Wageflo and what pay items constitute an eligible Wageflo balance.
- Our Employee Budgeting tool.
- The process
- Enabling Wageflo for specific employees.
- Viewing Wageflo line items on draft payslips.
- What to do with overdrawn wages.
- Wageflo reports & FAQs.
Can't see this feature on your platform or want more information? Then reach out to us via email at wageflo@foundu.com.au or head to our website and we can organise a demo of the feature.
What is Wageflo
Wageflo provides flexible earned-wage access and financial well-being tools for your employees at no cost to your business.
Will Wageflo complicate my payroll process?
The Wageflo process will not complicate your payroll process or day-to-day business, and there will be zero cost to your business for using this feature! The process looks like this:
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- Employees can access up to 80% of their earned wages in advance. They can access their pay from their employee app once you approve their shift!
- These funds are provided by foundU and are paid directly to your employees within 15 seconds of submitting their request. When it's time for the regular payday, your payroll process remains the same - generate and upload your ABA file as usual. The ABA file will include a recoupment of funds that goes directly back to foundU!
As you can see, your usual payroll process will remain unchanged, and there will be no impact on your net pay or reporting.
Wageflo is a financial health and well-being offering that can attract and retain staff, speed up the time to hire, help you fill additional shifts, and add considerable benefits to your employees!
How does Wageflo benefit my employees?
Wageflo will offer your employees more visibility and control over their wages and provide them with the tools to budget for their expenses, bills, and discretionary spending. In a time when money can be tight, having access to their own money a few days early can provide employees with peace of mind.
Wageflo benefits for your employees include:
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- Employees can access wages early once a manager approves their shifts.
- It can be applied or deactivated on a per-employee basis if some employees prefer not to have advanced access.
- Employees can create their budget, project their wage earnings based on their rostered shifts and set up payments into multiple bank accounts.
- Withdrawals can be done anywhere at any time via their self-serve Employee app.
- Low rate flat fee of $5 per withdrawal.
Contact us: Do you need more information, or do you want to see the feature in person? Input your details here for a live demo.
Your employees can access this feature once Wageflo is active on your platform. This includes:
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- All employees over 18 years old.
- Casual employees and shift-based employees. These employees will be able to access their funds as shifts are approved.
- However, for salaried employees, as their shifts are not approved daily, their pay will not be available until the end of the pay week.
Restrictions on using Wageflo
There are a few restrictions to be aware of, including:
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- Employees under 18 years of age are not eligible to use Wageflo.
- Employees need to have been paid once through your platform before accessing the feature (this avoids the risk of pay being sent to the wrong bank account if employees have filled in pay details incorrectly).
- For the same reason, if an employee updates their bank or TFN details, Wageflo will be deactivated until a pay has been processed with the new information.
- Wageflo will not be available if an employee's payslip has been manually edited.
- Monthly paid employees cannot access Wageflo.
To see the Wageflo process from an employee perspective, watch this short video below. Please note this video has no sound.
See our 'On-Demand Wages - Our Wageflo feature' employee help guide here.
Eligible Wageflo balance
Before using the feature, it's essential to understand what types of payments are eligible for Wageflo's total and which ones are excluded.
Please note: An eligible Wageflo withdrawal amount is calculated from NET wages after deductions. All deductions must be accounted for when determining the eligible Wageflo balance. The system prioritizes ‘unprocessed deductions’ for the pay period.
|
Key pay items |
Included in an eligible Wageflo balance? |
|
NET wages minus weekly deductions |
Yes |
|
Unprocessed wages for the previous pay period |
Yes |
|
Wages for the current pay period from approved shifts |
Yes |
|
Daily allowances |
Yes |
|
Shift allowances |
Yes |
|
Wages for pre-approved shifts (shifts approved in advance) |
No |
|
Automated weekly allowances (i.e. phone or car) |
No |
| Accrual-type allowances | No |
| Reimbursements | No |
| KM allowances | No |
| Workcover pay items | No |
| Bonus payments | No |
| Personal, Annual and LSL payments | No |
| TOIL payments | No |
| RDO payments | No |
| Weekly allowances based on worked hours (i.e. Tool Allowance) | No |
| TOIL balance/accrual | No |
Please note: Items that require additional admin approval, amounts that are subject to change, or amounts manually applied in payroll are not included in eligible Wageflo balances for payment.
The intention of Wageflo is to give employees access to earned wages from shifts.
Along with using Wageflo, your employees can access our in-built Budgeting tool. By using the Budgeting tool, employees have the ability to view their real-time and upcoming pay combined with typical expenses to help guide their spending choices. Employees can also:
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- Create their own budget.
- Project their wage earnings based on their rostered shifts.
- Estimate their outgoing wages and encourage the right spending behaviours.
- Set up payments into multiple bank accounts to pay their bills or build their savings.
The ability to view their real-time and upcoming pay combined with typical expenses helps employees guide their choices. Whether deciding to hold back on a significant cost or requesting more shifts, your employees can access tools that help their financial well-being.
To see the Budgeting Tool process from an employee perspective, watch this short video below. Please note that this video has no sound.
To view the different features of the Budgeting Tool, please check out our On-demand Wages Budgeting Tool employee help guide.
Using Wageflo in your platform
If you decide that Wageflo will benefit your business, our team will enable the feature in your platform and discuss some configuration options with you. This is an excellent opportunity to ask additional questions about the feature.
Starting the Process
If you'd like to offer your employees this flexible earned wage access and financial well-being tool, follow the steps below to get started!
To initiate the Wageflo set-up for your platform:
- To start, contact one of our team members to let them know you'd like to use the feature. You can do this by booking a Wageflo demo with one of our experts, speaking with your Customer Success Manager, or contacting our support team.
- Once your initial questions have been answered, our team will email you the T&C's for Wageflo usage.
- You'll then confirm your chosen desired Wageflo settings, options include:
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Newly created employees on/off - Tell us if you'd like newly created employees to default as Wageflo on.
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Wageflo employee wage eligibility % - Optionally set a capped percentage of your employee's wages eligible for Wageflo transactions. For example, 60 % of their wages.
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Access to Employee Budgeting - Do you want to give employees access to the Employee Budgeting tool?
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Wageflo Transaction Report - Select if you'd like your platform to have access to this report.
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Date - Confirm the Date you would like Wageflo to be turned on.
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Once Wageflo is up and working on your platform, you'll choose which employees to enable the feature if you have not set the default for all newly created employees.
Configure Communication Content
Once you are ready to start using Wageflo, it's a good idea to review and adjust (if required) the automated Wageflo introduction template sent to employees when the feature is turned on. This message template can be sent via your chosen method of email or SMS.
- Wageflo has been activated.
| ID | Recipient | Default content |
| 165 | Employee | On-demand wages have arrived. Our new feature will allow you to withdraw wages immediately after your shift is approved. |
To learn how to view or edit our SMS and email templates, please look at our guide on editing a message template here.
When Wageflo is activated in your platform, all employees who are eligible to use Wageflo can access their wages as soon as their shifts have been approved.
However, Wageflo can be defaulted on or off for new employees, depending on your business requirements/preferences. If Wageflo is defaulted off, you'll need to manage who has access to the feature; this can be done for:
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- An individual employee
- In bulk for a selected group of employees
We'll show you both processes below. These instructions will also be helpful if you need to temporarily disable Wageflo for certain employees and then re-enable it.
To enable Wageflo for an employee:
- Navigate to the employee's profile by People > Approved People or via the global search.
- In the Overview page on the employee profile, enable the 'Access to Wageflo' toggle to disable Wageflo for that employee.
If an employee has previously had Wageflo disabled, you can reenable this feature by following the instructions above.
To enable/disable Wageflo for employees in bulk:
- In the quick menu, navigate to People > Approved People.
- Next, select your group of employees > select 'Show Filter', filter your employee list, and/or select people from the checkbox next to their names.
- After you have filtered/selected the relevant employees, select Bulk Actions > Toggle Wageflo for all filtered.
- Next, you can select Disable or Enable, depending on your preference.
When an employee uses Wageflo, admins do not need to take any additional action! Your regular payroll process will continue as usual, and there will be no effect on net pay or reporting.
Employees who opt to use Wageflo will have a 'Wageflo' line item on their payslip showing the amount they accessed early and the $5.00 transaction fee. Admins can view this from the employee's payslip when processing their pay.
To view Wageflo on a draft payslip:
- In Payroll > Pay > Draft Payslips > select the payslip ID to view the employee's payslip.
- Once an employee has used Wageflo, a 'Wageflo' line item will appear on their payslip showing the amount they accessed early and the $5.00 transaction fee.
Please note: Wageflo payments are deducted from the employee's net pay amount.
After making the necessary pre-payroll checks, you will generate your payslips as normal and upload your ABA file. The ABA file will include a recoupment of funds that goes directly back to foundU. So there is nothing more you need to do!
There may be a time when an employee sees a negative withdrawal amount, and you see an 'overdrawn' status for an employee with access to Wageflo. This means that:
-
- In rare cases, a shift could be edited after it was approved and withdrawn by the employee. This scenario could lead to overdrawn pay, resulting in the employee seeing a negative withdrawal amount in their Employee App.
- If this happens, foundU automatically applies a cash deduction to the employee's next payslip. There is no cost to you as the reconciliation is between foundU and the employee.
- Your employee may see their available pay as negative but don't worry. Once the outstanding overdrawn has been reconciled, they can still earn more and withdraw again in the current pay cycle.
- In rare cases, a shift could be edited after it was approved and withdrawn by the employee. This scenario could lead to overdrawn pay, resulting in the employee seeing a negative withdrawal amount in their Employee App.
Please note: If this happens in multiple pay periods, foundU will prevent any further withdrawals until the issue is resolved through reconciliation.
Wageflo reports & FAQs
When the Wageflo feature is enabled on your platform, you'll be asked if you would like the Wageflo Transaction Report enabled. This report gives you a detailed view of all Wageflo transactions for all employees, including the transaction amount, the relevant payslip, and ABA ID.
Please note: This report is required to be enabled on your platform. If you don't see this report and would like access to it then please reach out to our friendly support team at help@foundu.com.au to have it enabled on your platform.
To generate the Wageflo Transaction report:
- Navigate to Reports > Financial, and under the Payroll Reports section, select the Wageflo Transaction report.
- Select your Duration and filter as needed. You can use the following filters:
- Office Code
- Employee
- Status
- When you have chosen your relevant filters, select Submit to generate the report.
- After generating the report, you can choose to export it to CSV, PDF, or print it by using the Export or Print options.
Contact us: Our support team has access to the Wageflo Access report, which provides visibility on which employees have Wageflo enabled, whether they have accessed payments, and whether they have updated their TFN details recently. Reach out to our team if you require such information.
Does Wageflo cost our business anything?
No. Wageflo is a financial health and well-being offering that you can provide to your employees at no additional cost. We fund each early wage access withdrawal and then automatically apply the deduction and $5 transaction fee for the employee from their next payslip.
Can I restrict earned wage access to specific employees?
Absolutely, you can select which employees can access their earned wages in case of emergencies. Once Wagelfo is setup, you'll have the option to default it on for any newly created employees, or select employees manually.
If only a portion of your employees will be using Wageflo, you'll have the option to enable this individually or in bulk. The instructions are provided in the section above titled 'Enabling Wageflo for your employees'.
What if I accidentally approve a shift, and my employee gets paid?
On the off chance this occurs, we will apply the overdrawn amount to their next available pay period until the overdrawn amount is depleted. As we do this automatically, you'll have nothing to worry about.
Can all my employees use Wageflo?
Wageflo is only available to employees who are 18 years and above. There are a few other small exceptions to note, such as monthly paid employees, please refer to our section in the guide above on Wageflo Eligibility.
How can I let my employees know that Wageflo is an option for them?
Once Wageflo has been activated on your platform and the appropriate employees have been enabled; your employees will see their available balances in their App. You can also let your employees know by using your Employee Announcement feature in your App!
Hot tip: You'll also want to ensure that the message template 165 for 'Wageflo has been activated' is turned on for SMS or email to ensure that your new employees understand and are aware of the feature. Instructions are provided in the content above.
Does my payroll or shift approval process have to change?
From a payroll perspective - your process won't change. You can approve shifts, and generate payroll as normal. The foundU system will automatically apply the cash payment to the employee's payslip without any interruption to your normal process.
Hot tip: If your business uses clocking, you can turn on our auto-approve feature that allows you to automate approvals that match your rostered times within certain thresholds saving your managers time and your business. It also allows your employees real-time availability of their earned money.
Does the available balance for on-demand wages consider any other deductions that employees may have?
Yes, the on-demand pay balance does take into consideration of any outstanding deductions the employee may have. This will not be included in their overall available balance so you are not required to disable their on-demand pay access to recoup any overpayments.
What happens if an employee is terminated and funds have been withdrawn?
As the employer, you are able to control if Wageflo is turned on or off. It’s important that you monitor this and turn it off if you’re aware of an upcoming termination. It is also advised that you do not allow an employee to take 100% of their eligible wages, this will greatly reduce the risk of an employee getting into an overdrawn state.
We will individually review each instance of overdrawn amounts on termination. If the amount is small the overdraw is just due to general use and you have made all reasonable efforts to avoid this state then it is likely we will not pursue repayment.
However, if the overdraw is a direct consequence of a mistake made while using the platform (such as incorrectly approving shifts, or forgetting to apply deductions), we may discuss recouping the overdrawn amount from you.
We will do this in partnership with you, and it will help to form future processes and changes in the product.
Why can't my new employee see their Wageflo balance in their Employee App?
Employees must be paid once successfully by your business before they will have access to Wageflo and see the Wageflo option in their App. This ensures that we have all pay details correct from the employee such as BSB and Account number before they start accessing Wageflo.
If the employee has already been paid once by your business, continue to check the below criteria to trouble-shoot why their balance cannot be seen.
- Has the employee recently changed bank details? If so, Wageflo will be unavailable until payment has been processed through the normal payroll generation process.
- Has the employee recently changed TFN details? If they have recently updated their TFN, the employee will be prohibited from using Wageflo until the next pay period.
- Has the employee's payslip been manually edited? If so, then this particular pay cycle can no longer be withdrawn as we can't calculate the daily earnings of the particular employee.
- Is the employee in an overdrawn state? If the employee is overdrawn the Wageflo balance will be reduced by this value.
- Are there unapproved shifts for this employee? If the employee has no shifts approved, they won't have a balance to withdraw from.
- Are the shifts pre-approved? If the employee's future shifts have been pre-approved in advance, funds will not be able to be drawn against.
- Is the employee under 18 years of age? If so, they are ineligible.